Housing Wire

OCTOBER 5, 2023

As the housing market suffers through a drought of home sales and related mortgage originations in the current high-rate environment, home prices and home equity continue to climb, helping to spark a revival of another sector — home equity lending and investment. billion, according to offering documents.

Housing Market 378

Housing Market Marketing Contracts Finance 378

Housing Wire

AUGUST 1, 2022

Rocket Mortgage , the nation’s largest lender, is expanding its product portfolio to home equity loans amid a significant slowdown in mortgage origination volume. Rocket is targeting American homeowners with high household debt and credit card balances but strong home equity positions. . ” U.S.

Renovations 379

Renovations Lending Mortgage Investing 379

Housing Wire

SEPTEMBER 7, 2022

Miami-based fintech Milo has started to diversify its portfolio for investors with digital holdings by offering its first crypto-mortgage refinancing product, the company announced on Tuesday. HousingWire first reported on the lender’s plans to debut refinancing products at the beginning of July. .

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Mortgage Loan Conditions Finance Investing 414

Housing Wire

NOVEMBER 9, 2022

While mortgage rates are high and economic uncertainty looms, there is good news for borrowers who already have a mortgage and may be looking to tap into their equity. Home equity loans and home equity lines of credit (HELOCs) are both loan products that are secured by the equity on a borrower’s home.

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Mortgage Marketing Appraisal 527

Housing Wire

FEBRUARY 3, 2023

In 2020 and 2021, many homeowners refinanced, locking in historically low 30-year fixed rate mortgages. HELOCs have continued to set the stage as flexible, helpful products that provide quick access to financing for a multitude of uses including home renovations, debt consolidations or emergency purchases.

Supply Chain 357

Supply Chain Renovations Finance Lending 357

Housing Wire

MARCH 29, 2024

The majority of consumer complaints in the mortgage arena (13,100, or 58%) were focused on conventional home loans, followed by Federal Housing Administration (FHA) loans (19%), U.S. Department of Veterans Affairs (VA) loans (9%) and home equity lines of credit, or HELOCs (6%).

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Mortgage Lending Finance 323

Housing Wire

MARCH 10, 2023

Stubborn inflation and high interest rates continue to wreak havoc on the mortgage-origination market, but there is one asset class in the housing market that is arguably flourishing in these hard times – home equity. rebranded as Rithm Capital ). Toohig said Raymond James finished the year with some $1.1

Housing Market 353

Housing Market Marketing Contracts Lending 353

Housing Wire

JANUARY 17, 2024

This cohort accounted for 1,950,000 properties — equating to 39% of total homes purchased! They own the home with their name on the title, as with any mortgage, traditional or reverse. The HECM for Purchase is not a refinancing tool; it is not akin to a Home Equity Line of Credit ( HELOC ).

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Finance Real Estate Agent Real Estate Insurance 424

Housing Wire

DECEMBER 27, 2022

The number of home listings dried up , contracts were canceled , the few buyers still out there demanded concessions , mortgage rates spiked to 7% and homebuilder sentiment hit rock bottom. They are not selling and have a lot of equity in their homes. Homeowners in 2022 also tapped into their home equity, which peaked at $11.5

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Housing Market Marketing Real Estate Agent Real Estate 493

Housing Wire

JUNE 29, 2022

Boston fintech firm Knox Financial plans to expand its lending business and loan products with $50 million in funding it received from a real estate advisory firm. The fintech also will offer additional loan products, including home equity lines of credit (HELOCs), new purchase loans and cash-out refinancings.

Investing 319

Investing Real Estate Lending Brokerage 319

Housing Wire

SEPTEMBER 22, 2022

New York-based Unlock Technologies , a fintech operating in the shared-equity market, and real estate investment firm Saluda Grade , have closed a $180 million private-label securitization (PLS) backed entirely by Unlock-originated residential home-equity agreements (HEAs). 21, according to Mortgage News Daily.

Marketing 358

Marketing Contracts Finance Home Value 358

Housing Wire

MARCH 29, 2023

The demand for home-equity loans, particularly home-equity lines of credit (HELOCs) as well as shared-equity investment products, is now stronger than at any time since before the global financial crisis some 15 years ago. Those 17 deals were backed by home-equity collateral valued in total at $3.9

Contracts 335

Contracts Lending Investing Investors 335

Housing Wire

MAY 25, 2023

Older Americans are sitting on more than $12 trillion in home equity, according to the National Reverse Mortgage Lenders Association (NRMLA)/ Riskspan Reverse Mortgage Market Index. These homeowners are seeking different retirement solutions to help allocate their home equity and make it more durable over the next 20 to 30 years.

Loan Officers 377

Loan Officers Real Estate Agent Real Estate Finance 377

Housing Wire

MARCH 18, 2024

A national syndicated columnist has taken a closer look at the reverse mortgage product category after reviewing data from the Consumer Financial Protection Bureau (CFPB) about the industry’s advertising practices , and she says that the product can have utility for older Americans as long as a prospective borrower properly understands it.

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Advertising Mortgage Business Clients 320

Housing Wire

AUGUST 3, 2022

Home equity climbed to a historic high of $11.5 trillion in the second quarter, but it could be nearing its peak as major equity-rich markets on the West Coast begin to show signs of decline. Black Knight calculates homeowner equity levels by leveraging loan-level mortgage performance data and its home price index.

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Lending Housing Market Marketing Investing 327

Housing Wire

FEBRUARY 12, 2024

Where should mortgage rates be before I buy or refinance my home? How much home can I afford today? Furthermore, the average consumer is likely unaware of the variety of loan options available to them through the wholesale channel. Do they need to tap into their equity to pay off other debts?

Mortgage 405

Mortgage Clients Business Marketing 405

Housing Wire

MAY 9, 2022

Fewer buyers rushed to lock mortgages last month amid a rapid climb in long-term mortgage rates , reflecting home affordability concerns, reports from Mortgage Capital Trading and Black Knight showed. . Refinancing has seen the biggest impact of the rising-rate pressure. Rate lock production volume activity was down 20.3%

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Mortgage Home Value Buyers Lending 368

Housing Wire

AUGUST 25, 2022

Like its peers, the wholesale lender’s origination volume has plunged over the past year due to a dearth of refinancings and a sluggish purchase market. That has contributed to UWM’s competitors taking losses on loans when they can least afford it. Jumbo loan volume increased 3.1% Homepoint is in a tough spot.

Mortgage 387

Mortgage Loan Officers Finance Investors 387

Housing Wire

APRIL 15, 2022

announced this week that it has committed $210 million to advance racial equity in homeownership in the United States, following a Bloomberg investigation that found the bank approved fewer than half of Black applicants for a home refinancing in 2020. Refinancing originations reached $119 billion, up 58% year-over-year.

Lending 370

Lending Mortgage Marketing 370

Housing Wire

JANUARY 11, 2022

The real estate company entered into an agreement to acquire mortgage lender Bay Equity Home Loans for $135 million, two-thirds in cash and one-third in stocks, Redfin said in a press release and public filing. Also, Redfin hopes it will let the company reduce investments in lending software by using the Bay Equity system.

Loan Officers 456

Loan Officers Lending Real Estate Brokerage 456

Housing Wire

MAY 3, 2022

Fintech and fractional home-equity lender Point has raised an additional $115 million through a Series C fundraising round led by venture capital firm WestCap. The capital will be used to accelerate Point’s growth in the $25 trillion home-equity market, according to the company’s co-founder and CEO Eddie Lim.

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Contracts Investors Investing Market Value 396

Housing Wire

OCTOBER 17, 2022

BofA’s production decline follows that of its depository peers, JPMorgan Chase and Wells Fargo , which also posted double-digit mortgage loan production decreases during the third quarter. A bright side in the previous quarter, BofA’s home equity originations fell slightly in the third quarter: falling to $2.4

Mortgage 327

Mortgage Contracts Business 327

Housing Wire

MARCH 1, 2021

The 30-year mortgage is easily the most popular and talked-about mortgage product out there. After all, in January 2021, 30-year loans accounted for a whopping three-quarters of all mortgage originations in the country. But make no mistake: They’re not your only option when buying or refinancing a home. USDA loans.

Mortgage 427

Mortgage Loan Officers Real Estate Insurance 427

Housing Wire

JUNE 24, 2022

They are not accepting new loan applications, so that probably means they are getting ready to close up the whole thing,” an employee who was affected by the layoff told HousingWire. Licensed in 49 states and the District of Columbia, FGMC offers mortgage loans for new home purchases and refinancings.

Retail 417

Retail Mortgage Investing Business 417

Housing Wire

APRIL 17, 2023

Elevated mortgage rates are continuing to give homeowners a reason to stay at their current homes, according to the 2023 Borrower Insights Survey conducted by ICE Mortgage Technology. Of those who plan to remain in their homes, about one-third (36%) specifically cite high interest rates as the reason for staying put.

Mortgage 294

Mortgage Finance Investing Home Value 294

Housing Wire

AUGUST 14, 2023

The Fed recently announced yet another interest rate hike, making borrowing more expensive and pushing the prospect of purchasing a new home out of reach for an even greater share of Americans. High mortgage rates hurt home buying and selling prospects. Educate and update Stay connected. Track and report on falling prices.

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Real Estate Agent Real Estate Clients Agents 289

Housing Wire

MAY 18, 2022

HW: How can a reverse mortgage allow older Americans to take advantage of their existing equity without selling at a loss? CM : Firstly, reverse mortgages, whether government-insured or proprietary, are non-recourse loans. We know that this product is not for everyone – it is not a one-size-fits-all solution for retirees.

Mortgage 393

Mortgage Clients Insurance Tools 393

Housing Wire

DECEMBER 8, 2020

While it is best known for refinancing student loans, the startup also offers a variety of other financial products, including personal loans, small business loans, home equity loans and mortgages. Though it doesn’t bake in origination fees, there is a one-time $1,495 loan processing fee.

Mortgage 384

Mortgage Government Investors Finance 384

Housing Wire

JULY 12, 2022

San Francisco-based Unison is extending its reach in the heartland by expanding its shared-equity loan program to homeowners in Nebraska. billion in equity-sharing agreements with some 9,000 homeowners across 29 states and the District of Columbia. Prioritizing home equity solutions in a rising rate environment.

Contracts 305

Contracts Investing Real Estate Investors 305

Housing Wire

JANUARY 12, 2023

The refi boom is in our rearview mirrors and the road ahead looks promising for home equity volume. Who knows how high that volume could go, considering tappable equity is at a historic high of $11 trillion and total home equity at a record $27.8 How do you identify the right home equity partner?

Technology 352

Technology Inspection Valuation Tools 352

Housing Wire

JANUARY 18, 2023

Today’s housing market has many looking for ways to cash in their equity, especially older homeowners. Adrian Prieto : When it comes to leveraging the value of a home, a home equity line of credit (HELOC) is probably the most well-known option. That’s why it’s a much better product for retirees.

Insurance 395

Insurance Design Clients Business 395

Housing Wire

JANUARY 30, 2024

Declining rates tend to increase prepayments as borrowers refinance their loans, often away from the existing servicer. We are long away from serious refinancing activity unless interest rates fall precipitously,” Greenberg stated, which makes the executives believe they “have the time to build the platform that we want.”

Investing 318

Investing Retail Real Estate Mortgage 318

Housing Wire

JUNE 14, 2022

A brokerage owner in Brooklyn, Kevin Leibowitz, said he hasn’t seen enough lenders expand the credit box to get more borrowers, but he expects loans will be loosely underwritten compared to two years ago. . The post Credit scores dropped in May, but what does that mean? appeared first on HousingWire.

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Lending Brokerage Mortgage Marketing 326

Housing Wire

JANUARY 12, 2024

billion in home loans, representing only 23% of the $108 billion volume in the previous year, when it was still the kingfish in correspondent lending. Home lending revenues declined to $3.3 JPMorgan’s total production was $35 billion in 2023 – 38% higher than Wells Fargo’s origination volume. billion from $4.2

Mortgage 368

Mortgage Lending Retail Business 368

Housing Wire

NOVEMBER 16, 2020

If you’re using a home loan to buy a house, then you could have two types of insurance in your future, home insurance and mortgage insurance. Home insurance is also called homeowner’s insurance or hazard insurance. Here’s what you need to know if a home purchase is on your radar. But mortgage insurance?

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Insurance Mortgage Loan Officers Real Estate 434

Housing Wire

OCTOBER 21, 2020

AmeriHome, which is under the umbrella of private equity giant Apollo Global Holdings , is also expected to raise an additional $100 million in a concurrent private placement with Starwood. Overall production volume for the 12 months that ended on June 30 was $53.7 AmeriHome uses the bank Cenlar to subservice nearly all of its loans.

Investors 390

Investors Finance Mortgage Business 390

Housing Wire

JULY 31, 2022

In an increasingly digital-first age, businesses are targeting solutions that provide convenience and speed, allowing their customers to make everyday transactions without stepping outside their homes. And when it comes to buying and refinancing homes, the demand for digital is no different.

Lending 307

Lending Technology Real Estate Government 307